Occidental Petroleum Corp reported a smaller quarterly loss yesterday compared with a year earlier, according to Reuters.
Production in the quarter fell 12.2% to 605,000 barrels of oil equivalent per day.
Occidental posted a net loss of $241mn, or 32 cents per share, for the third quarter ended Sept. 30, compared with a loss of $2.61bn, or $3.42 cents per share, a year earlier.
Last year’s losses took place when the company took a $2.6bn after-tax charge related to scrapped projects and a sharp decline in oil and gas futures.
